Reasons Behind Delisting Bitcoin SV by Binance. What Really Happened?

Binance, one of the most prominent crypto exchanges, announced the delisting of BSV (Bitcoin Satoshi Vision) following the series of events that involved Craig Wright threatening to sue people for defaming him publicly on twitter and through articles, and for not considering him as the real Satoshi Nakamoto.

Binance, in their recent announcement, stated that they keep reviewing their listed coins and tokens for maximum quality for the users of the platform, and if any of the products fail to comply with their standards, it gets delisted. They also listed the criteria for a currency to stay listed on the platform which included as they state,

  • Commitment of team to project
  • Level and quality of development activity
  • Network / smart contract stability
  • Level of public communication
  • Responsiveness to our periodic due diligence requests
  • Evidence of unethical / fraudulent conduct
  • Contribution to a healthy and sustainable crypto ecosystem

While these points were put out professionally meant to be more generic than pointed, they serve to be straight attacks considering the ongoing situation for BSV and Craig Wright. The self-proclaimed Satoshi Nakamoto threatened to sue Peter McCormack, the member of the Hodlonaut community that was recently formed to prove that Craig is a fraud and is not the actual Satoshi Nakamoto. Craig sent a legal notice to Peter that asked for a public apology from Peter and admittance that Craig is the real Satoshi Nakamoto, if he failed to comply with the requirements of the notice, legal action would be taken against him for defamation. Craig also announced $5,000 worth of BSV for anyone who gives out the identity of the owner of the twitter account @hodlonaut. Instead, this move backfired and made a big community against him which used the hashtag #CraigIsAFraud and #WeAreAllHodlonauts.

READ ALSO: Craig Wright vs The World – Craig Threatens to Sue Anyone Who Calls Him a Fraud

Peter replied to the notice sent by Craig’s lawyers saying that he would rather go to court than apologize for something that is right. CZ, the CEO of Binance showed full support to Peter, while also having a strong negative stance against Craig. In a series of tweets he showed his disappointment in the self-proclaimed “Fraud” Satoshi. CZ tweeted,

Further strengthening his point of Craig not being Satoshi, he stated,

The real Satoshi can digitally sign any message to prove it. This is as simple as breathing for him/her. And we have the pub key. Until then, everyone is Satoshi, except Craig Wright!

Also educating the BSV community about how private keys work and how Craig could easily prove that he was Satoshi, IF he was. He stated,

“Lastly, anyone who supports BSV from a tech perspective should be attacking the fraudulent Craig Wright, who is poisoning YOUR community, and not attack the rest of the world. Anyone thinking CW is Satoshi should read about how a private key works, ie, learn about crypto”.

The usually polite CZ snapped when the legal notice was issued to Hodlnaut. He immediately responded in his tweet stating,

This backlash has not only defamed Craig but also has pushed BSV to plunge down with huge percentages. The currency that was previously being traded at around $90 before the controversy started is has now touched $60 mark. As shown by CoinMarketCap,

Not only is the price dip a result of the de-listing from Binance, but most other influencers are also promoting the delisting of BSV from exhanges. Anthony Pompliano, a crypto influencer and host of one of the most sought after crypto podcast ‘Off the Chain’, tweeted;

“Every exchange should delist BSV simultaneously on May 1st in a sign of solidarity behind the only Bitcoin that ever mattered.This community is the responsibility of the people. Sometimes we must do the hard thing, not because it is easy, but because it is right.#DelistBSV

Also supporting the Hodlnaut’s agenda he also stated that we’re better off not knowing who the real Satoshi is.

Other than that, major exchanges have already started delisting procedures of BSV. The CEO of ShapeShift, Erik Voorhees tweeted in response to the tweets of CZ,

Kraken, which is arguably one of the biggest crypto exchanges of the world, also ran a poll on twitter asking the community whether or not BSV should be delisted from their exchange as “it is toxic.” 75% of the results as of press times stand in favor of delisting.

Shehryar Hasan

Performing artist, guitarist and sub-editor at BlockPublisher. Shehryar is an electrical engineer and blockchain enthusiast. He holds investments in bitcoin, ethereum, OST, TRX and Ripple. Email: shehryar@blockpublisher.com or contact the editor at editor.news@blockpublisher.com

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